Takashimaya, Shimizu acquire office-commercial building in Hanoi
HO CHI MINH CITY, NNA - Japanese department store chain operator Takashimaya Co. and general contractor Shimizu Corp. have jointly acquired the commercial and office sector of a commercial-residential building in downtown Hanoi.
Takashimaya's urban development arm, Toshin Development Co., and Shimizu's Singaporean arm, Shimizu Investment (Asia) Pte. Ltd., took over Hanoi Residential and Commercial Centre -- HRCC Ltd., the owner and operator of Indochina Plaza Hanoi -- for an undisclosed amount.
Toshin holds a 60 percent stake in HRCC and Shimizu Investment the remainder, according to a joint statement released on Monday.
Located in the Cau Giay District of the Vietnamese capital, the building has a 24,900 square-meter commercial area, a 17,400 sq-meter office area and a residential area. The busy Xuan Thuy street nearby with a subway station under construction is popular among Japanese expatriates as it is near a Japanese school.
The two companies have chosen the area as they expect strong growth there, a Takashimaya spokesman told NNA on Tuesday. (NNA/Kyodo)